New Law Protects Renters

Week of June 22, 2009

The Protecting Tenants at Foreclosure Act of 2009 recently signed into law by President Obama gives military members additional protection if the homes they rent are foreclosed. The legislation ensures that renters are not forced out of their homes if foreclosure occurs and a new landlord takes over. The legislation gives renters the right to stay in their homes throughout the duration of their lease unless the new owner is moving into the home, or if the renter is renting under a month-to-month lease. Still, the new law gives renters at least 90 days before they can be evicted no matter where they live in the U.S. For more information, servicemembers should contact their local legal office. To learn more, read the full article on Military.com.

To learn more about personal finances, visit the Military.com Finance Center.